Shares of Pittsburgh, PA-based company Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation (NYSE: WAB), have been benefiting from its consistent shareholder-friendly initiatives, as well as strength across its Freight and Transit segments. Bullish full-year 2024 earnings guidance looks encouraging and raises optimism about the stock.
The positive sentiment surrounding WAB stock is evident from the fact that the Zacks Consensus Estimate for the third quarter and full-year 2024 earnings has been revised upward in the past 60 days. The Zacks Consensus Estimate for third-quarter and full-year 2024 earnings per share indicates growth of 9.4% and 26% from the respective 2023 figures.
Image Source: Zacks Investment Research
The company's long-term (three-to-five years) earnings growth rate is 16.1%, higher than its industry's 13.4%.
Let's delve deeper.
Solid Financial Returns for Shareholders
Highlighting its pro-investor stance, Wabtec (on Feb. 14, 2024) announced a 17.6% dividend increase, thereby raising its quarterly cash dividend from 17 cents per share to 20 cents. This quarterly dividend of 20 cents (80 cents annualized) per share gives Wabtec a 0.47% yield at the current stock price. This company's payout ratio is 11%, with a five-year dividend growth rate of 12.34%.
Westinghouse Air Brake Technologies Corporation Dividend Yield
Westinghouse Air Brake Technologies Corporation dividend-yield-ttm | Westinghouse Air Brake Technologies Corporation Quote
Wabtec's bottom line ...
